Trump's Favorite President: The Historical and Financial Context
Donald Trump has repeatedly named Ronald Reagan as his favorite president, a preference rooted in Reagan's economic policies, deregulation, and conservative fiscal philosophy. Reagan's presidency from 1981 to 1989 is often cited by Trump as a model for tax cuts, military spending, and a strong stance on trade, with Reagan's approval ratings peaking at 68% in 1986 according to Gallup. This alignment is visible in Trump's own policy rollbacks and his emphasis on supply-side economics, which he has promoted as a key driver of the U.S. stock market's performance during his tenure. The connection between the two is further reinforced by Reagan's legacy in shaping the modern Republican economic agenda, which Trump has continued to champion through executive orders and legislative priorities. For a deeper look at Trump's policy alignment with Reagan-era economics, see Forbes analysis on the subject. Read the Forbes breakdown.
The financial markets have reacted to Trump's admiration for Reagan in measurable ways, with the S&P 500 posting a total return of over 180% during Trump's first term, a period marked by corporate tax cuts and deregulation. The Tax Cuts and Jobs Act of 2017, which Trump signed into law, reduced the corporate tax rate from 35% to 21%, a move he has frequently compared to Reagan's 1986 tax reform that lowered the top rate from 50% to 28%. These policies are credited by the Tax Foundation with boosting long-term GDP by 0.7% to 1.2% and creating an estimated 1.5 million jobs over a decade. Trump has also pointed to Reagan's handling of inflation, which fell from 13.5% in 1980 to 4.1% by 1988, as a precedent for his own focus on energy independence and monetary policy restraint. The link between Reagan's legacy and Trump's economic strategy remains a central theme in conservative financial commentary.
Rankings and Public Perception of Trump's Favorite President
In the latest C-SPAN presidential historians survey, Ronald Reagan ranks 8th overall, with high marks in public persuasion and crisis leadership but lower scores in economic management and administrative skills. The 2024 update of the survey, which aggregates rankings from 160 historians, places Reagan's economic policies at 15th among all presidents, reflecting mixed views on the long-term fiscal impact of his tax cuts and increased defense spending. Trump's own ranking in the same survey is 41st, a position he has publicly disputed, often citing the same economic metrics he associates with Reagan's success. This contrast highlights the gap between historical consensus and political narrative, with Trump using Reagan's legacy to bolster his own claims about economic stewardship. The divergence is also evident in approval ratings, with Reagan averaging 52.8% over his two terms, while Trump's first term averaged 41.0% according to Gallup. View the Gallup data.
The public's view of Reagan as Trump's favorite president is further shaped by media coverage and political rhetoric, with conservative outlets frequently drawing parallels between the two on issues like border security, military funding, and energy policy. A 2023 Pew Research Center survey found that 62% of Republicans view Reagan's presidency favorably, making him the most popular Republican president among the party's base. This sentiment reinforces Trump's frequent references to Reagan as a model for his own administration, particularly in speeches about tax reform and deregulation. The